Drew & Napier LLC Advises Albedo Limited In S$400 Million Reverse Takeover Of Healthtrends

21 August 2008 – Leading Singapore law firm, Drew & Napier LLC (“Drew & Napier”) is acting for Albedo Limited ("Company") in its S$400 million takeover of the entire issued and paid-up share capital of HealthTrends Medical Investments Pte Ltd ("HTMI, HTMI and its subsidiaries and associated companies are collectively referred to as the HTMI Group").

The sum of S$400 million will be satisfied by the issue and allotment of new ordinary shares in the capital of the Company. The entire purchase consideration is at a price of $0.25 per share, payable in two tranches. The first tranche of the purchase consideration amounting up to S$280 million will be payable on completion.

The acquisition of HTMI Group will allow Albedo to expand into the medical and wellness tourism industry in Singapore and Asia. To date, HTMI has an extensive network of over 100 owned and affiliated medical clinics, aesthetics, specialists, wellness centres and operations across Asia. HTMI Group's placing in the market is expected to grow in the next few years through its regional network of medical and wellness care centres.

The Drew & Napier team is led by Banking & Corporate Director, Benedict Teo Lip Hua.

ABOUT DREW & NAPIER LLC
Established in 1889, Drew & Napier LLC is one of Singapore's leading and largest law firms, with over 220 lawyers and fee-earners. Consistently rated top tier in dispute resolution over the years by international ranking organisations such as Asia Pacific Legal 500, Chambers Global, Practical Law Company and Asia Law Profiles, to name but a few, the firm has 7  Senior Counsel, the largest number of any law firm in Singapore. The firm is headed by chief executive officer, Davinder Singh, Senior Counsel. Drew & Napier LLC is also rated top tier in Corporate Insolvency & Restructuring, Intellectual Property and Tax, with market leading practices in Banking & Corporate, Competition & Antitrust, Telecommunications, Media & Technology, and Admiralty & Shipping. For more information, please visit www.drewnapier.com.

For more information please contact:

Verona Huang
Corporate Affairs Manager
Drew & Napier LLC
Tel: +65 6531 2482
Email: verona.huang@drewnapier.com

Lisa Lim
Corporate Affairs Executive
Drew & Napier LLC
Tel: +65 6531 2218
Email: lisa.lim@drewnapier.com